British employers with more than 250 staff are now required by law to publish figures annually setting out any differences in pay and bonuses between its male and female employees.
Bidwells are passionate about fairness, equality and inclusion. We welcome the introduction of gender pay gap reporting and what it sets out to achieve, however, we recognise that we need to do more to create opportunities for women to progress. We understand the reasons why we have a gender pay gap and we have committed to a transparent programme of change.
Our analysis has shown a difference across our ordinary pay and bonus pay. We believe the main reason for these differences is due to the makeup of our workforce. While we have an almost 50/50 split of men and women across the Firm, we have a significantly higher proportion of men than women in senior management roles. We also have a higher number of women than men in non-senior management roles; for example, 16% of our roles are administrative and secretarial and these are largely filled by women. While we’re proud that every one of our employees surveyed received an annual bonus payment, these payments are higher in senior roles where they are linked to commission and financial targets.
Part of this gap is due to the nature of our industry, as property consultancy has traditionally been populated by men. When we post a job advert, on average 61% of respondents are male and in some divisions this can be as high as 73%. While we look to promote from within and are proud of our Bidwells success stories, these figures demonstrate one of the challenges we face when addressing the gender pay gap. In addition to this, our high retention rate means a lot of the men currently in senior roles are choosing to remain at Bidwells. Of course, we’re very happy that they want to stay with us, but we also recognise that it means we have to take a more long-term approach to addressing the gender imbalance at the top.
split of men and women
1. Difference in mean hourly pay
Men are paid on average 24.9% more per hour than women.
2. Difference in median hourly pay
Median hourly pay for men is 31.4% higher than for women
3. Proportion of male/female employees in each Quartile hourly pay band (Q1 represents the highest paid, Q4 the lowest)
1. Difference in mean bonus pay in last 12 months between men and women
Men are paid on average 24.9% more per hour than women
2. Difference in median bonus pay in last 12 months between men and women
The median bonus payment was 51.5% more for men than women
3. Proportion of relevant male/female employees receiving bonus pay in last 12 months
100% of eligible employees received some form of bonus payment
So what are we doing about it?
We are committed to being transparent about our gender pay gap and because we value all our employees we are fully committed to identifying the root causes of this pay gap and finding solutions:
- We are taking a pro-active approach to growing our own talent through our graduate programmes and expect to see the ratio of male to females in senior roles changing as our people develop in their career with us.
- We are focussing our efforts to engage with schools and universities; our long-term aim is to encourage more diversity in the industry and ultimately into our senior roles. We think we’re off to a great start - the current graduate cohort is 40% female and our Rural Work Experience programme is 80% female.
- We are continuing to promote family-friendly work practices to encourage women to return to work after maternity leave. Currently, 26.5% of our female employees have a flexible working plan in place.